Rani Therapeutics (NASDAQ:RANI) CEO Buys 35,000 Shares

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) CEO Talat Imran acquired 35,000 shares of Rani Therapeutics stock in a transaction on Friday, July 17th. The stock was purchased at an average cost of $0.72 per share, with a total value of $25,200.00. Following the completion of the transaction, the chief executive officer directly owned 469,736 shares in the company, valued at $338,209.92. This represents a 8.05% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Rani Therapeutics Stock Up 1.6%

RANI stock traded up $0.01 during midday trading on Tuesday, hitting $0.82. The company’s stock had a trading volume of 170,538 shares, compared to its average volume of 1,047,185. The stock has a market cap of $101.95 million, a price-to-earnings ratio of -2.00 and a beta of 0.78. The stock’s 50-day moving average price is $0.81 and its 200 day moving average price is $1.03. Rani Therapeutics Holdings, Inc. has a 1 year low of $0.44 and a 1 year high of $3.87.

Rani Therapeutics (NASDAQ:RANI) last issued its quarterly earnings results on Friday, May 15th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.02. The company had revenue of $1.71 million for the quarter, compared to analysts’ expectations of $1.12 million. As a group, equities analysts forecast that Rani Therapeutics Holdings, Inc. will post -0.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

RANI has been the topic of a number of analyst reports. Canaccord Genuity Group reissued a “buy” rating and set a $5.00 target price on shares of Rani Therapeutics in a report on Wednesday, May 20th. Wall Street Zen upgraded Rani Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. Weiss Ratings lowered Rani Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, July 17th. Finally, Lake Street Capital started coverage on Rani Therapeutics in a report on Tuesday, April 14th. They set a “buy” rating and a $9.00 price objective on the stock. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Rani Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.75.

Institutional Investors Weigh In On Rani Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of RANI. Jefferies Financial Group Inc. purchased a new position in Rani Therapeutics in the 4th quarter worth approximately $40,000. Virtu Financial LLC purchased a new stake in shares of Rani Therapeutics during the 4th quarter valued at $69,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Rani Therapeutics during the 4th quarter worth $93,000. Farallon Capital Management LLC purchased a new position in Rani Therapeutics in the fourth quarter worth $105,000. Finally, Kestra Private Wealth Services LLC grew its position in Rani Therapeutics by 44.8% in the third quarter. Kestra Private Wealth Services LLC now owns 226,142 shares of the company’s stock worth $113,000 after acquiring an additional 70,002 shares in the last quarter. 30.19% of the stock is owned by hedge funds and other institutional investors.

About Rani Therapeutics

Rani Therapeutics is a clinical-stage biopharmaceutical company developing oral delivery technologies for large-molecule drugs. The company’s proprietary RaniPill platform is designed to enable the gastrointestinal delivery of biologic therapies traditionally administered via injection. Through a swallowable capsule that autonomously deploys a microscopic injector in the small intestine, Rani aims to improve patient convenience and adherence for peptide and protein therapies, including insulin and other hormones.

Since its founding in 2012, Rani Therapeutics has advanced its lead programs through early-phase clinical trials, demonstrating proof-of-concept for oral insulin delivery.